Q2 2026 MakeMyTrip Ltd Earnings Call Transcript
Key Points
- MakeMyTrip Ltd (MMYT) reported a strong overall performance in Q2, with an adjusted operating profit of $44.2 million, marking an 18% year-on-year growth.
- The international air ticketing revenue grew by over 29.6% year-on-year, significantly outpacing industry growth.
- The international hotels revenue increased by over 42% year-on-year, contributing to the international business now making up 28% of overall revenue.
- The company launched the AI-powered conversational travel assistant Myra, which has shown promising initial engagement with over 25,000 daily conversations.
- The bus ticketing business witnessed strong growth, with a 44.1% year-on-year increase in adjusted margin in constant currency terms.
- The domestic air market faced a decline of 3% year-on-year due to supply constraints, impacting overall domestic air passenger growth.
- Excessive rainfall in North Indian states led to a significant decline in travel demand in those regions during the quarter.
- The company reported a net loss of $5.7 million for the quarter, compared to a profit of $17.9 million in the same quarter last year, due to foreign currency losses and interest costs.
- Marketing and sales promotion expenses increased to 5.2% of gross bookings, up from 4.6% in the same quarter last year.
- The domestic air market's recovery remains slow, with ongoing supply constraints affecting growth potential in this segment.
(technical difficulty) Rajesh Magow, our Co-Founder and Group Chief Executive Officer; Mohit Kabra, our Group Chief Operating Officer; and Dipak Bohra, who has recently joined us as Group Chief Financial Officer.
As a reminder, this live event is being recorded by the company and will be made available for replay on our IR website shortly after the conclusion of today's event. At the end of these prepared remarks, we will also be hosting Q&A session.
Furthermore, certain statements made during today's event may be considered forward-looking statements within the meaning of safe harbor provision of the US Private Securities Litigation Reform Act of 1995. These statements are not guarantee of future performance, are subject to inherent uncertainties and actual results may differ materially. Any forward-looking information relayed during this event speaks only as of this date, and the company undertakes no obligation to update the information to reflect changed circumstances.
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